Netflix announced that it will increase prices for many of its plans in the US and abroad.
On January 21, the streaming service revealed its plans to raise the cost of multiple plans.
- The commercial-free Standard plan will jump from $15.49 per month to $17.99
- The Standard plan with commercials will range from $6.99 per month to $7.99
- The Premium plan will increase from $22.99 per month to $24.99
The new price points should take effect in your next billing cycle. Prices will also be raised in Canada, Portugal and Argentina.
Netflix, which did not raise prices in 2024, told shareholders on Jan. 21 that revenue grew 16% last year, while it added more than 19 million paid memberships last quarter to surpass 300 million subscribers. The streamer also enjoyed a greater presence at live events, including the Logan Paul-Mike Tyson bout, “WWE Raw” coverage and two football matches broadcast on Christmas Day.
“When you’re going to ask for a price increase, you better make sure you’ve got the goods and engagement to back that up,” Netflix co-CEO Ted Sarandos said during the company’s Jan. 21 investor call.
Netflix hasn’t increased its Commercial-Free Standard plan since 2022. Its Premium plan hasn’t seen a cost increase since 2023.
Netflix will also try to stop password sharing. Subscribers can add additional members to their accounts for a lower fee than a new subscription. Adding someone to a standard ad-free plan will increase to $8.99, while fees for additional members on a plan that contains commercials will remain the same.
Other streaming services have also been charged additional fees in recent months, with YouTube TV’s monthly fee recently rising by $10 to $82.99 per month. Ad-free plans jumped as well: Disney+ also rose to $15.99 per month, while Hulu rose to $18.99 per month and Max increased to $16.99 per month.